{"id":43674,"date":"2024-12-03T05:15:42","date_gmt":"2024-12-03T10:15:42","guid":{"rendered":"https:\/\/latamobility.com\/?p=43674"},"modified":"2024-12-03T07:39:12","modified_gmt":"2024-12-03T12:39:12","slug":"china-consolidates-as-world-leader-in-electric-vehicle-production","status":"publish","type":"post","link":"https:\/\/latamobility.com\/en\/china-consolidates-as-world-leader-in-electric-vehicle-production\/","title":{"rendered":"China Consolidates as World Leader in Electric Vehicle Production"},"content":{"rendered":"\n<p>A report entitled <strong><a href=\"https:\/\/www.bde.es\/f\/webbe\/SES\/Secciones\/Publicaciones\/InformesBoletinesRevistas\/BoletinEconomico\/24\/T4\/Fich\/be2404-art03.pdf\">\u201cThe Rise of the Electric Car in China and its Impact on the European Union\u201d<\/a><\/strong> by professionals from the <strong>Bank of Italy<\/strong>, the <strong>Bank of Spain<\/strong>, and the <strong>German Federal Bank<\/strong> highlights that <strong>China<\/strong> continues to consolidate its position as the world&#8217;s leading manufacturer and exporter of <strong>battery electric vehicles (BEVs)<\/strong>.<\/p>\n\n\n\n<p>Behind the success of Chinese exports is the <strong>early adoption of BEVs<\/strong>, the <strong>comprehensive control of the supply chain<\/strong>, and the <strong>implementation of government support policies<\/strong> at different stages of production.<\/p>\n\n\n\n<p>With more than <strong>1.5 million units<\/strong>, <strong>China<\/strong> exported six times more <strong>battery electric vehicles<\/strong> in 2023 than in 2019. Globally, the country accounted for <strong>29% of BEV exports<\/strong> at the end of last year, compared to <strong>South Korea (21%)<\/strong> and <strong>Germany (15%)<\/strong>.<\/p>\n\n\n\n<p><strong>You may also read:<\/strong> <a href=\"https:\/\/latamobility.com\/en\/negotiations-advance-between-china-and-eu-on-electric-vehicles\/\">Negotiations Advance Between China and EU on Electric Vehicles<\/a><\/p>\n\n\n\n<p>In this regard, \u201cthe European Union is the main export destination for BEVs manufactured in China and accounts for approximately 40 % of total BEV export revenues from that country\u201d, <strong>they note.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"572\" src=\"https:\/\/latamobility.com\/wp-content\/uploads\/2024\/12\/BYD-1-1-1024x572-1.jpg\" alt=\"\" class=\"wp-image-43670\" srcset=\"https:\/\/latamobility.com\/wp-content\/uploads\/2024\/12\/BYD-1-1-1024x572-1.jpg 1024w, https:\/\/latamobility.com\/wp-content\/uploads\/2024\/12\/BYD-1-1-1024x572-1-300x168.jpg 300w, https:\/\/latamobility.com\/wp-content\/uploads\/2024\/12\/BYD-1-1-1024x572-1-768x429.jpg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-presence-in-the-old-continent\"><strong>Presence in the Old Continent<\/strong><\/h2>\n\n\n\n<p><strong>Battery electric vehicles<\/strong> manufactured in <strong>China<\/strong> have established <strong>\u201ca strong presence\u201d<\/strong> in <strong>Spain<\/strong>, <strong>France<\/strong>, and <strong>Germany<\/strong>. In fact, more than half of <strong>Spanish imports of BEVs<\/strong> come from <strong>China<\/strong>.<\/p>\n\n\n\n<p>For its part, the <strong>European Union&#8217;s BEV market<\/strong> has shown <strong>\u201cstrong dynamism\u201d<\/strong> in recent years. In <strong>2023<\/strong>, <strong>BEVs<\/strong> accounted for more than <strong>15% of total vehicle sales in the EU<\/strong> (<strong>5%, 4%, 17%, and 18% in Spain, Italy, France, and Germany<\/strong>, respectively), compared to just <strong>1.9% in 2019<\/strong>.<\/p>\n\n\n\n<p>\u201cMost of the BEV sales in the EU correspond to vehicles produced in the region. However, according to industry reports, the weight in total EU BEV registrations of those manufactured in China has increased from 0.4 % in 2019 to 19.5 % in 2023\u201d, <strong>they note.<\/strong><\/p>\n\n\n\n<p>Of these <strong>BEV sales<\/strong>, some are <strong>electric vehicles sold in Europe<\/strong> by <strong>Chinese-owned brands<\/strong>, while others have <strong>joint Chinese and European participation<\/strong> or are <strong>US brands supplying European markets from China<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A report entitled \u201cThe Rise of the Electric Car in China and its Impact on the European Union\u201d by professionals from the Bank of Italy, the Bank of Spain, and the German Federal Bank highlights that China continues to consolidate its position as the world&#8217;s leading manufacturer and exporter of battery electric vehicles (BEVs). Behind&#8230;<\/p>\n","protected":false},"author":8,"featured_media":43667,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[2054],"tags":[2572,1564,1281,1489],"class_list":["post-43674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-electric-mobility","tag-china-2","tag-electric-cars","tag-electric-mobility","tag-sustainability"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.7 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China Consolidates as World Leader in Electric Vehicle Production - Latam Mobility<\/title>\n<meta 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